China Automobile Dealers Association: In November, the national second-hand car market transaction volume was 1.7856 million vehicles, an increase of 8.12% year-on-year.

On January 9, the China Automobile Dealers Association released a deep analysis of the national used car market in November 2024. In November 2024, the national used car market trading volume was 1.7856 million vehicles, with a month-on-month growth of 4.33% and a year-on-year growth of 8.12%, with a trading amount of 114.167 billion yuan. From January to November 2024, the cumulative trading volume of used cars was 17.7139 million vehicles, a year-on-year growth of 5.74%, with an increase of 0.9616 million vehicles compared to the same period last year, and a cumulative trading amount of 1165.243 billion yuan. From December 16 to December 22, 2024, the average daily trading volume of the used car market was 69,200 vehicles, a 0.53% increase from the previous week and a 5.2% increase compared to the same period in November. According to comparable calculations, the total trading volume of used cars from December 1 to December 22 reached 1.4 million vehicles, an increase of 5% from the previous month and a significant increase of 15% compared to the same period last year. In November 2024, the national used car market trading volume was 1.7856 million vehicles, a 4.33% increase from the previous month. Basic sedans had a trading volume of 1.0187 million vehicles, an increase of 3.99% month-on-month and 4.98% year-on-year; SUVs had a trading volume of 242,500 vehicles, an increase of 3.74% month-on-month and 11.84% year-on-year; MPVs had a trading volume of 114,400 vehicles, an increase of 4% month-on-month and 9.14% year-on-year; and crossover sedans had a trading volume of 43,800 vehicles, an increase of 4.32% month-on-month and 33.52% year-on-year. Commercial vehicle situation: buses had a trading volume of 98,000 vehicles, an increase of 7% month-on-month and 5.11% year-on-year; trucks had a trading volume of 144,900 vehicles, an increase of 3.93% month-on-month and 11.74% year-on-year. From January to November 2024, the cumulative trading volume of used cars was 17.7139 million vehicles, a year-on-year growth of 5.74%. Basic sedans had a cumulative trading volume of 1.0217 million vehicles, a 2.97% year-on-year growth; SUVs had a cumulative trading volume of 238.6 million vehicles, a 10.47% year-on-year growth; MPVs had a cumulative trading volume of 112,620 vehicles, an 8.91% year-on-year growth; and crossover sedans had a cumulative trading volume of 42,710 vehicles, a 31.45% year-on-year growth. Commercial vehicle situation: trucks had a trading volume of 142,760 vehicles, a 4.26% year-on-year growth; buses had a trading volume of 98,270 vehicles, a 0.54% year-on-year growth. In November 2024, looking at the overall sales of cars of various levels, A-level sedans were still the best-selling models, accounting for 51.33%, an increase of 2.03% month-on-month; followed by B-level sedans at 22.28%, a decrease of 1.57% month-on-month; C-level sedans at 7.35%, a decrease of 0.6% month-on-month; D-level sedans at 1.76%, an increase of 0.03% month-on-month; A0-level sedans at 12.59%, a decrease of 0.31% month-on-month; A00-level sedans at 4.69%, an increase of 0.42% month-on-month. Overall, in November, A-level sedans showed a significant growth trend, while B-level and C-level sedans experienced varying degrees of decline. In November, the majority of used cars traded were in the 3-6 year age range, accounting for 49.84%, an increase of 0.34% month-on-month and 3.34% year-on-year; within 3 years, accounted for 26.62%, an increase of 0.46% month-on-month, but a decrease of 1.43% year-on-year; in the 7-10 year range, accounted for 16.02%, a decrease of 0.27% month-on-month and 1.85% year-on-year; and above 10 years, accounted for 7.52%, a decrease of 0.52% month-on-month and 0.05% year-on-year. In November, the trading volume of vehicles in the 3-6 year range was the highest, showing an increase compared to the previous month and the same period last year. However, the trading volume of older vehicles in the 7-10 year and over 10-year range showed a downward trend. From January to November, the trading volume of vehicles in the 3-6 year range was the highest, accounting for 47.4%, an increase of 4.2 percentage points from the same period last year; within 3 years, accounted for 26.4%, a decrease of 1.5 percentage points year-on-year; in the 7-10 year range, accounted for 17.4%, a decrease of 3.1 percentage points year-on-year; and over 10 years, accounted for 8.8%, an increase of 0.4 percentage points year-on-year. In November, the vehicle market with prices below 30,000 yuan had the largest share, accounting for 35.7%, an increase of 1.3 percentage points month-on-month. Vehicles in the 30,000-50,000 range accounted for 19.4%, a decrease of 1.6 percentage points month-on-month; 50,000-80,000 range accounted for 14.9%, an increase of 1 percentage point month-on-month; 80,000-120,000 range accounted for 16%, an increase of 1.6 percentage points month-on-month; 120,000-150,000 range accounted for 4.2%, a decrease of 1.5 percentage points month-on-month; and 150,000-300,000 range accounted for 7.5%, a decrease of 0.6 percentage points month-on-month. Vehicles above 300,000 accounted for 2.3%, a decrease of 0.2 percentage points month-on-month. In November, the used car market prices showed a trend of differentiation. Demand increased in the lower price range, while the higher-priced used car market showed a slight downward trend. In November 2024, the national used car market showed a steady growth trend, with all regions achieving varying degrees of growth. Among them, the North and East China regions showed particularly significant growth, while other regions maintained a stable growth momentum. In East China, the trading volume of used cars was 517,200 vehicles, an increase of 5.26% month-on-month, with an increase of 25,800 vehicles compared to the previous month. In Central and South China, the trading volume of used cars was 499,700 vehicles, an increase of 3.56% month-on-month, with an increase of 17,200 vehicles compared to the previous month. In North China, the trading volume of used cars was 236,900 vehicles, an increase of 6.38% month-over-month, with an increase of 14,200 vehicles compared to the previous month. In Southwest China, the trading volume of used cars was 297,900 vehicles, an increase of 3.51% month-on-month, with an increase of 10,100 vehicles compared to the previous month. In Northeast China, the trading volume of used cars was 133,800 vehicles, an increase of 2.36% month-on-month, with an increase of 3,100 vehicles compared to the previous month. In Northwest China, the trading volume of used cars was 100,100 vehicles, an increase of 3.93% month-over-month, with an increase of 3,800 vehicles compared to the previous month.Car.In November, the average price of used cars was 63,900 yuan, a decrease of 1,400 yuan compared to October and a decrease of 900 yuan compared to the same period last year. In November 2024, a total of 110,900 used cars were traded by Shanxi Guoxin Energy Corporation, an increase of 6.4% compared to October and an increase of 28.6% compared to the same period last year. From January to November 2024, a total of 1,004,900 used cars were traded by Shanxi Guoxin Energy Corporation, an increase of 48.7% compared to the same period in 2023. Note: Data does not include hybrid models In November 2024, in the new energy passenger car segment; A00-class sedans accounted for 18.4%, a decrease of 0.2% compared to the previous month; A0-class sedans accounted for 6.6%, a decrease of 0.3% compared to the previous month; A-class sedans accounted for 21.4%, an increase of 0.9% compared to the previous month. B-class sedans accounted for 11.2%, a decrease of 1%; C-class models accounted for 4%, an increase of 0.4% compared to the previous month; MPV models accounted for 10.8%, an increase of 0.4% compared to the previous month; SUV models accounted for 27.6%, a decrease of 0.2% compared to the previous month. In November, the market share of A-class, C-class, and MPV models in the new energy used car transactions increased compared to the previous month, while the market share of B-class models decreased significantly this month. Note: Data does not include hybrid models In terms of vehicle age structure in November, the market share of 2-4 year, and 4-6 year models increased, while the market share of models under 2 years and over 6 years decreased rapidly. Specifically, models with less than 2 years of usage accounted for 30.7%, a decrease of 4% compared to the previous month. Models with 2-4 years of usage accounted for 40.8%, an increase of 3.5% compared to the previous month. Models with 4-6 years of usage accounted for 19.7%, an increase of 5% compared to the previous month. Models with over 6 years of usage accounted for 8. 8%, a decrease of 4.5% compared to the previous month. Note: Data does not include hybrid models In November 2024, the market share of new energy used cars priced under 30,000, 30,000-50,000, 50,000-80,000, and over 300,000 increased, while the market share of other price ranges decreased to varying degrees compared to the previous month. This month, new energy used cars priced under 30,000 accounted for 37. 7%, an increase of 0. 8% compared to the previous month; those priced between 30,000-50,000 accounted for 14. 3%, an increase of 0. 3%; those priced between 50,000-80,000 accounted for 10. 4%, an increase of 0. 2%; those priced over 300,000 accounted for 2. 2%, an increase of 0. 1%; market shares in the 80,000-120,000, 120,000-150,000, and 150,000-300,000 price ranges all decreased. The price range with the largest decrease was 150,000-300,000, which decreased by 1% compared to the previous month. Note: Data does not include hybrid models In November, the transfer rate of used cars was 29. 79%, an increase of 0. 17% compared to the previous month and an increase of 1% compared to the same period last year. The total number of transferred used cars was 532,000, an increase of 4. 94% compared to the previous month and an increase of 11. 88% compared to the same period last year. In November 2024, the top five provinces in terms of transfer rate were Beijing, Zhejiang, Shanghai, Jiangsu, and Shandong. Specifically, the transfer rate in Beijing was 39%, an increase of 1. 8% compared to the previous month, with 21,500 cars transferred; in Zhejiang, the transfer rate was 33. 26%, a decrease of 0. 2%, with 43,800 cars transferred; in Shanghai, the transfer rate was 32. 96%, a decrease of 0. 3%, with 15,500 cars transferred; in Jiangsu, the transfer rate was 32. 44%, a decrease of 0. 2%, with 33,200 cars transferred; in Shandong, the transfer rate was 32. 27%, a decrease of 0. 7%, with 53,200 cars transferred. In December 2024, Xing Certification received a total of 70,249 uploaded vehicle data, an increase of approximately 29% compared to November. As the year-end approached, dealers were actively taking delivery of vehicles; of these, 61,868 data met the Xing Certification standard, and 41,079 data met the group standard; the proportion of data meeting the Xing Certification criteria this month accounted for approximately 88. 1% of the total submissions, while the proportion meeting the group standard was 58. 5%, with the overall data quality slightly lower than the previous month; compared to the same period in 2023, December 2024 saw an increase of approximately 13. 2%. Across the country, in December, most regions showed a general upward trend compared to November, with Fujian, Inner Mongolia, Heilongjiang, and other regions showing relatively significant growth compared to the previous month. In December 2024, based on the reported mileage data, used car dealers this month were relatively "aggressive" in selecting vehicles based on mileage compared to November; the proportion meeting the Xing Certification criteria accounted for approximately 88. 1%, while the proportion meeting the group standard was approximately 58. 5%. This month, the market for "like-new" cars with mileage under 10,000 km increased by 1% compared to the previous month, while the market for "relatively new" cars with mileage between 10,000-30,000 km decreased by approximately 1%, the market for "cost-effective" cars with mileage between 30,000-50,000 km decreased by 1%, and the market for vehicles with over 100,000 km increased by 1% compared to the previous month. In December 2024, as the year-end approached, dealers' selection strategies based on vehicle age were relatively more "aggressive" compared to the previous month, with a preference for newer vehicles; in particular, the data for vehicles under 3 years old ("almost new") increased by 2% compared to the previous month, while the data for vehicles aged 3-5 years ("relatively new") decreased by approximately 1%. The data for vehicles aged 5-7 years ("cost-effective") remained the same as the previous month, and the data for vehicles aged 7-10 years ("old") decreased by 1% compared to the previous month.